Is Netflix being dethroned?

Netflix has been the single superpower in the movie streaming industry but has been slowly losing as other companies become more relevant. Although Netflix has had better navigation and better usability than other streaming sites many companies brought forward better shows which has brought many consumers to second guess themselves when purchasing the month long subscription.

Consumers aim to watch as most shows as possible with a single subscription which Netflix was previously able to offer comfortably. However with new competitors and rise in new popular genres, many other platforms have been on the rise in popularity, Netflix has been dropping domestically.

Even as it adds subscribers globally, Netflix’s domestic market share is shrinking. As that happens, competitors are moving in. According to analysis from streaming guide ReelGood, HBO Max had the most popular blockbuster film releases this spring and early summer with Mortal Kombat and Godzilla vs. Kong. Its tag team of action movies made Netflix’s biggest hit, Army of the Dead, look wimpy. Plus, while Netflix continues to build itself into a streamer doubling as a studio, Amazon just bought a studio—MGM—outright. And some of Netflix’s homegrown attempts at making its own Game of Thrones–style or Marvel-style cultural touchstone have fizzled out spectacularly; a television adaptation of Mark Millar’s comic Jupiter’s Legacy, initially intended as a launchpad for a superhero franchise, was abruptly canceled less than a month after it debuted.

HBO Max, meanwhile, has a clunky user interface and a bad habit of fritzing out on its biggest nights. (When I tried to watch the finale of Mare of Easttown, the app on my Apple TV kept playing an episode of The Big Bang Theory. Rude.) But since its debut in May 2020, HBO Max has gradually bodied Netflix where it hurts the most: by offering better shows and movies. The HBO originals back catalog is already unparalleled, plus it has been on a roll with creative, fresh shows like I May Destroy You and Hacks. The pandemic spurred parent company WarnerMedia to release its slate of theater-bound Warner Bros. movies on the platform, from Shaka King’s tense, excellent drama Judas and the Black Messiah to the upcoming, long-awaited Dune. While Netflix’s 2021 film slate is nothing to sniff at—there’s new Adam McKay and Jane Campion films coming, for example—it simply doesn’t have the juice from a studio like Warner Bros. behind it. After years secure in its position as the “it” streaming service, Netflix has, at least temporarily, lost the quality-control crown to HBO Max.

With increasing sales increasing for competitors Netflix may end up with a bad future.


Categories: Tech&Innovation